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U/W, Cyber, ECOA Automation, Reverse Products; Credit Cost Hike; FHA, VA, USDA News

Why does opening every ironing board sound like you’re dipping a witch in scalding oil? Cutting costs can sound like that as well, and while we await the 2023 conforming loan limits tomorrow, and the industry grapples with massive credit reporting cost hikes, lenders are not the only ones taking a close look at expenses these days. Owners of vendors and third-party providers are also looking at middle layers of management, cutting back, certainly cutting salaries, or ridding themselves of unproductive salespeople. (Yes, sales staff can report to senior management or owners!) Meanwhile, our industry continues to pay for the sins of previous days. “Santos orchestrated the scheme to recruit fake, or ‘straw’ buyers to purchase 12 properties in Newark. Using the identity and credit of these straw buyers allowed Santos, Simoes, and their conspirators to conceal their identities from the lender as the actual purchasers of the properties.” (Today’s pod

Biden Administration Announces Steps to Lower Electricity Bills for Residents in HUD Programs

NNPA NEWSWIRE “The combination of extreme heat and rising utility prices creates a perfect storm, and HUD-assisted families and communities are some of the most vulnerable,” said Secretary Marcia L. Fudge. “The steps announced today by the Biden Administration will not only help families reduce utility costs, but also provide an opportunity for HUD-assisted residents to participate in the clean energy economy through local community solar programs.” 

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